Marine Corps Association
- Assets
- $16.7m
- Revenue
- $7.9m
- Investments
- $0.0
- Employees
- 113
- Location
- Quantico, VA
- Founding
- 10/1989
- Data as of
- 12/2023
- EIN
- 54-0460860
Organization Overview
Marine Corps Association is located in Quantico, VA. The organization was established in 1989. According to its NTEE Classification (W30) the organization is classified as: Military & Veterans Organizations, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Marine Corps Association employed 113 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marine Corps Association is a 501(c)(19) and as such, is described as a "Post or Organization of Past or Present Members of the Armed Forces" by the IRS.
For the year ending 12/2023, Marine Corps Association generated $7.9m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $7.8m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (0.9%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE MARINE CORPS BY DISSEMINATING KNOWLEDGE OF MILITARY ART & SCIENCE AMONG MARINES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RETAIL OPERATIONS:SINCE THE MARINE CORPS ASSOCIATION IS THE PREMIER PROVIDER OF ALL IN-PRINT BOOKS LISTED ON THE MARINE CORPS PROFESSIONAL READING PROGRAM, IT OPERATES A RETAIL BOOK SERVICE (BOTH ONLINE AND THROUGH BRICK AND MORTAR STORES) FOR THE CONVENIENCE OF MEMBERS IN BUILDING THEIR OWN PROFESSIONAL LIBRARIES. BOOKSTORES ARE LOCATED IN CAMP LEJEUNE, NORTH CAROLINA AND WITHIN THE MARINE SHOP IN QUANTICO, VIRGINIA. IN JULY 2019 THE BOOKSTORE IN CAMP LEJUNE CLOSED. THE MAIL ORDER SERVICE IS LOCATED IN QUANTICO, VIRGINIA, IN THE MARINE CORPS ASSOCIATION HEADQUARTERS. WITH THE PURCHASE OF THE MARINE SHOP IN QUANTICO, VIRGINIA, IN JANUARY 2007, THE MARINE CORPS ASSOCIATION IS NOW ABLE TO OFFER QUALITY UNIFORMS, ACCESSORIES AND SERVICES TO ALL MARINES. THESE PRODUCTS AND SERVICES COMPLEMENT THE MARINE CORPS.
PUBLICATIONS AND MEMBERSHIP:THE MARINE CORPS ASSOCIATION PRODUCES TWO MONTHLY PUBLICATIONS, THE "MARINE CORPS GAZETTE AND THE "LEATHERNECK." THE "MARINE CORPS GAZETTE'S" MISSION HAS REMAINED UNCHANGED DURING ITS 104 YEARS OF PUBLICATION: "TO PROVIDE A FORUM FOR THE EXCHANGE OF IDEAS THAT WILL ADVANCE KNOWLEDGE, INTEREST AND ESPRIT IN THE MARINE CORPS". THE "LEATHERNECK MAGAZINE" CONTINUES ITS COMMITMENT TO TELLING THE CORPS' STORY WITH ARTICLES ON ITS ILLUSTRIOUS HISTORY, CURRENT OPERATIONS AND EXERCISES, CONTINUING UPDATES ON THE ORGANIZATION AND EQUIPMENT OF MARINES, AND PLANS FOR THE FUTURE. THESE MAGAZINES ARE OFFERED AS PART OF THE BENEFITS OF MCA MEMBERSHIP.
PROFESSIONAL DEVELOPMENT AND AWARDS DINNER:EACH YEAR MCA ADVANCES LEADERSHIP AND RECOGNIZES EXCELLENCE IN MARINES THROUGH DINNERS, LUNCHEONS AND PROFESSIONAL EVENTS. THESE PROFESSIONAL DEVELOPMENT OPPORTUNITIES PROMOTE CAMARADERIE AMONG MARINES AND PROVIDE THE OPPORTUNITY FOR MARINES TO LEARN LEADERSHIP AND MENTORING SKILLS, ACQUIRE ADDITIONAL KNOWLEDGE OF ONGOING OPERATIONS, AND RECEIVE STRATEGIC AND TACTICAL INFORMATION FROM HIGH PROFILE GUEST SPEAKERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ltgen Charles Chiarotti Usmc Ret President & CEO | OfficerTrustee | 34.5 | $252,292 |
Ltgen John Toolan Usmc Ret Chair Of The Board | OfficerTrustee | 2 | $0 |
Jay Holmes Vice Chair Of The Board | OfficerTrustee | 2 | $0 |
Bryan Wood General Counsel | OfficerTrustee | 2 | $0 |
Ltcol Chris Davis Usmc Ret Director | Trustee | 2 | $0 |
Mr William Timothy Eichorn Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lsc Communications Magazine Publishing | 12/30/21 | $392,598 |
Marriott Business Services Venue For Professional Dinners | 12/30/21 | $161,743 |
Ricoh It Services | 12/30/21 | $104,842 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $150,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $150,000 |
| Total Program Service Revenue | $4,261,056 |
| Investment income | $403,874 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $132,140 |
| Net Rental Income | $91,520 |
| Net Gain/Loss on Asset Sales | $141,116 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $2,692,960 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,885,045 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $396,788 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,573,633 |
| Pension plan accruals and contributions | $130,981 |
| Other employee benefits | $243,658 |
| Payroll taxes | $290,697 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $180 |
| Fees for services: Accounting | $61,414 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $53,111 |
| Fees for services: Other | $244,158 |
| Advertising and promotion | $46,930 |
| Office expenses | $359,129 |
| Information technology | $213,820 |
| Royalties | $1,307 |
| Occupancy | $61,447 |
| Travel | $48,773 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $580,871 |
| Interest | $1,512 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $262,853 |
| Insurance | $69,828 |
| All other expenses | $51,933 |
| Total functional expenses | $7,847,623 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $254,968 |
| Savings and temporary cash investments | $218,452 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $399,880 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,227,776 |
| Prepaid expenses and deferred charges | $150,054 |
| Net Land, buildings, and equipment | $2,186,073 |
| Investments—publicly traded securities | $11,169,309 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $53,234 |
| Total assets | $16,659,746 |
| Accounts payable and accrued expenses | $758,362 |
| Grants payable | $0 |
| Deferred revenue | $1,400,724 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $32,084 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $23,902 |
| Total liabilities | $2,215,072 |
| Net assets without donor restrictions | $14,173,745 |
| Net assets with donor restrictions | $270,929 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $16,659,746 |